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Curve Finance founder Michael Egorov hit amid $22M CRV liquidation cascade

Over $20M worth of CRV-collateralised positions were liquidated as the price of the Curve Finance’s governance token dropped over 30%.

Curve chief nearly liquidated for $150M in CRV in weekend crypto crash

Egorov came close to liquidation on his highly leveraged CRV positions, which total over $150M, with CRV dipping below $0.38 on Saturday.

During the early hours of February 1, as soon as the deal expired, three of Micheal Egorov’s counterparties moved a total of 8.75 million CRV.

CRV tokens that Michael Egorov sold to avoid liquidation of his debt were briefly sent to Binance, briefly dropping their price.